×
2 402
Fashion Jobs
AUTUMNPAPER LIMITED
Alexander Mcqueen Vip & Kol Manager
Permanent · LONDON
ESTEE LAUDER
Clinique - Consultant - Boots, Bluewater - 22.5 Hours, 3 Days - Part Time, Permanent
Permanent · Dartford
ESTEE LAUDER
Clinique - Consultant - Boots, Bluewater - 15 Hours, 2 Days - Part Time, Permanent
Permanent · Dartford
JOHN LEWIS
Loss Prevention Partner
Permanent · CHELMSFORD
BOOHOO GROUP
Senior Commercial Finance Analyst
Permanent · MANCHESTER
BOOHOOMAN
Senior Marketing Manager
Permanent · MANCHESTER
BOOHOO
Paid Search Manager
Permanent · MANCHESTER
DEBENHAMS
Marketplace Business Development Manager
Permanent · LONDON
DEBENHAMS
Marketplace Account Manager
Permanent · LONDON
DEBENHAMS
Marketplace Business Development Assistant
Permanent · LONDON
REISS
Buying Admin Assistant - Graduate Opportunity
Permanent · LONDON
HOMESENSE
Loss Prevention Officer - Full Time Tkmaxx/Homsesense Basingstoke
Permanent · Basingstoke
VIVIENNE WESTWOOD
Warehouse Operative
Permanent ·
VIVIENNE WESTWOOD
Legal Counsel
Permanent · LONDON
VIVIENNE WESTWOOD
Buying Admin Assistant
Permanent · LONDON
ESTEE LAUDER
Tom Ford - Assistant Business Manager - Selfridges, London - 37.5 Hours - Full Time, Permanent
Permanent · London
ESTEE LAUDER
The Estee Lauder Companies - Learning And Development Assistant Manager
Permanent · London
VF INTERNATIONAL
dc Training Specialist
Permanent · COALVILLE
VF INTERNATIONAL
Warehouse Area Manager
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
HEAD OFFICE
Head Chef Food Production – Victoria Head Office
Permanent · LONDON
DOROTHY PERKINS
Paid Search Assistant
Permanent · LONDON
Ads
By
Reuters API
Published
May 7, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ferragamo sees currencies, channel mix denting 2018 results

By
Reuters API
Published
May 7, 2018

Italian luxury group Salvatore Ferragamo said on Monday it expected 2018 results to be undermined by currency swings and an unfavourable mix of its sales channels, after posting first quarter results in line with expectations.


Salvatore Ferragamo - Fall-Winter2018 - Womenswear - Milan - © PixelFormula


The Florence-based company, which is battling against falling sales and profitability, partly due to a clean-up of inventories, issued a profit warning in December.

In a statement it said current currency trends and ongoing unfavourable channel mix would have a negative impact on sales, margins and results this year.

Although like-for-like sales in the first three months of the year were up 0.3 percent, sales in its retail channel were down 3.6 percent at current exchange rates in the same period.

Wholesale rose 2.6 percent.

The group said it would "continue to invest in a focused programme aimed at relaunching the Brand and optimising the processes," and still has work to do to turn itself around, its chairman said.

“We have to work, we still have a lot to do,” executive chairman Ferruccio Ferragamo said on Monday.

The shoemaker parted ways with Chief Executive Eraldo Poletto in March a year after he unveiled an ambitious plan aimed at refreshing the style of its products and increasing its appeal to a younger clientele.

Ferragamo said the group would press on with the strategy started under Poletto but would put on hold “everything that is very costly”.

Last month, the family-controlled company appointed a Gucci executive - Micaela Le Divelec - as general manager of the group, postponing the choice of a new CEO.

Ferragamo reiterated he hoped the new CEO would come from within the company.

© Thomson Reuters 2022 All rights reserved.